Model does not impact the the surface to make a wave
The wave dynamics are in relation to a Mesh Volume which is why the cube is working. The geometry of the yacht hull are only planes. If you made a mesh with volume it works just fine.

Select the 'Hull-Cube' and press "/" to go into local view. In edit mode press W to remove doubles, which will remove a lot of doubles. Select all the top vertices and press F to fill. The back vertices and fill. Now you have a Mesh Volume.

Happy sailing!